Prepare an income statement, an owner’s equity statement, and a balance sheet for the dental practice of Carl Craft, DDS, from the items listed below for the month of September. Carl Craft, Capital, September 1 $40,000 Accounts payable 7,000 Equipment 30,000 Service revenue 24,000 Carl Craft, Drawings 5,000 Dental supplies expense 3,500 Cash 6,000 Utilities expense 700 Dental supplies 2,800 Salaries expense 7,000 Accounts receivable 14,000 Rent expense 2,000
